Finance & Economics / Blockchain & Crypto
Crypto Mining Income & Tax Calculator
Implementation Specifications
This calculator is planned and documented. The formulas and guidance below are ready for implementation.
Required Inputs
- Hash rate
- Power consumption (watts)
- Electricity cost ($/kWh)
- Pool fee (%)
- Hardware cost
- Coin price at mining
- Tax bracket
Formulas & Calculations
Daily coins mined = (Hash rate / Network difficulty) × Block reward
Daily power cost = (Power consumption / 1000) × 24 × Electricity cost
Daily pool fee = Daily coins × Coin price × Pool fee %
Daily profit = (Daily coins × Coin price) - Power cost - Pool fee
Taxable mining income = Daily coins × Fair market value at receipt
Tax owed = Income × SE tax (15.3%) + Income tax
After deducting electricity: Net income = Income - Power costs
Status: Specification complete, implementation pending
To implement: Create app/components/calculators/crypto-mining-income-tax-calculator.tsx and register in app/lib/calculator-registry.ts
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